What is the average income tax for pediatricians?

Answer 1

The occupation of the person makes no difference on how much tax is withheld or rates they pay. If they are in a private practice and not employed by a corporation or such, like anyone who works for themselves, they have no withholding but make estimated payments on a different method. Clearly, you may not understand some of the basics of what withholding is, and some other tax matters. See answers to general questions about withholding and taxation for more information on it.

Answer 2

== == The work performed really makes no difference in how tax is calculated..essentially, (while no two people pay the same because of the below), the tax of 2 people with the same income from any specific earned income source is the same, the amount 2 people with the same amount of earnings pays, (and all pediatricians have different earnings and earnings from many things), is different

The tax paid depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. The amount of tax withheld or eventually paid also depends on many other things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions. All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances.

Answer 3

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